Barclaycard Platinum Shocker

MABLE

SilverScooby wrote: »

He's not misguided at all. To give a few examples of your enlightened, kind, helpful postings:

"No doubt you are the one who called (sic) the problems in the first place by not keeping to the terms and conditions"

"How easy it is the blame the bank. You are the one who caused the problems in the first place"

"It would appear the OP makes a habit of not keeping within the terms and conditions."

"No doubt you had attitude when you phoned Barclaycard and got everthing you deserved. Will people like you never learn."

"If you behave like an idiot you must expect to be treated as such. I suggest you go away write your letter and grow up."

I wouldn't have thought “Please be nice to other MoneySavers” was a difficult concept to understand, but apparently so.

Put those claws away girl!

ravenk

Dylanwing wrote: »

Ravenk - Good post. Question about the bad debts. Do you refer to normal customers, caused by reckless lending by the Banks? Or do you mean losses because the Banks bought a pile of worthless junk debt from the USA? Not that it matters, the guilty get a bonus/ huge pay off, whilst the customer pays.;) Mind you, before long Mable will be getting the blame for the Credit Crunch as well!:rotfl:

I think the Banks just got greedy.
Once they had saturated the available low to medium risk lending market, the only way to continue and build on the multi billion dollar profits was to ignore the risks and target the high risk lending markets.
The selling bad debt to each other was just part of the business model they have always done. They made the mistake of trusting each other.
Now the trusy has been broken. Just look at the inter bank lending rates.
Who will be the first to fold next year ?
Bet the banks are putting lots of business via clearing houses at the moment. A clearing house is a counterparty that protects against defaults.
Clearing houses are owned by the banks. Bit like a owning a part of your own insurance company.
Bets on who will be first to fold next year ?

Chris2000

YorkshireBoy wrote: »

However, the lender has no way of knowing the value of your investments or indeed how much equity you have in your house (if that's what you meant).

If the house was purchased since 2000 the lender can make a reasonable estimate of how much equity there is. The purchase price is publicly available and the size of the mortgage is available from the CRAs.

If the customer has been living in the house since before 2000, the lender can use their postcode databases and the original and current mortgage balance to deduce something useful about the likelihood of equity, particularly given what's happened to house prices since then.

alant1000

i think it has more to do with how much you other outgoings are such as mortgage, mobile phone contracts etc which they can also see versus your salary and the type of work you do. They may decide to reduce or suspend your account if they believe there is any risk at all. Even if you can comfortably afford your credit card balance now, what would happen if interest rates went and there are people who cant afford to pay the balance such as what has happened in the US - so they are just being over cautious.

But hey, a good opportunity to get used to life without credit???